# Heizao Capital

> Heizao Capital is a VC fund backing Apps, Internet and E-Commerce. See 2 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Total investments: 2
- Last investment: Oct 2019
- Lead investor: 0%
- Last updated: Aug 2026

Heizao Capital is a VC fund focused on Apps and Internet. Black Algae Capital is an equity investment institution that focuses on large consumer sectors.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Apps | 1 | 50% |
| Internet | 1 | 50% |
| E-Commerce | 1 | 50% |
| Marketplace | 1 | 50% |
| Online Portals | 1 | 50% |

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series C | 1 | 50% |
| Series D | 1 | 50% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| KK Group | KK Group provides an online-to-offline imported products marketplace. It provides an O2O platform that enables shoppers to purchase items from physical stores anywhere in the world through their mobile phone. | $100M | Series D | Oct 23, 2019 |  |
| KK Group | KK Group provides an online-to-offline imported products marketplace. It provides an O2O platform that enables shoppers to purchase items from physical stores anywhere in the world through their mobile phone. | $59.6M | Series C | Mar 12, 2019 |  |

2 of 2 investments shown.

## Co-investors
- [eWTP Technology & Innovation Fund](https://shizune.co/investors/profile/ewtp-technology-innovation-fund) — VC Fund, 2 deals together
- [Matrix Partners China](https://shizune.co/investors/profile/matrix-partners-china) — VC Fund, 2 deals together
- Angel Plus — VC Fund, 1 deal together
- [Bright Venture Capital](https://shizune.co/investors/profile/bright-venture-capital) — VC Fund, 1 deal together
- [N5Capital](https://shizune.co/investors/profile/n5capital) — VC Fund, 1 deal together
- [Shenzhen Capital Group](https://shizune.co/investors/profile/shenzhen-capital-group) — VC Fund, 1 deal together

## Similar investors

### Similar stage
- [Sequoia Capital](https://shizune.co/investors/profile/sequoia-capital) — VC Fund
- [New Enterprise Associates](https://shizune.co/investors/profile/new-enterprise-associates) — VC Fund
- [Bessemer Venture Partners](https://shizune.co/investors/profile/bessemer-venture-partners) — VC Fund

## FAQ

### What does Heizao Capital invest in?

Heizao Capital invests primarily in Apps, Internet and E-Commerce startups, most often at Series C and Series D stage. Most of the 2 investments tracked by Shizune back companies in China. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did Heizao Capital last invest?

The most recent investment recorded for Heizao Capital closed in Oct 2019. Shizune tracks 2 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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